Nova Minerals Ltd — Capital/Financing Update 2020

Jul 8, 2020

ASX: NVA, OTC: NVAAF, FSE: QM3

ASX ANNOUNCEMENT

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9 July 2020

NVAO Notice of Exercise of Options

For eligible option holders only ( the Options, ASX code: NVAO ) in Nova Minerals Limited ( the Company, ASX code: NVA )

During the last week Nova Minerals Limited ( Nova or Company ) ( ASX: NVA, OTC: NVAAF, FSE: QM3 ) has had number of enquiries from option holders regarding the process to convert the NVAO Options. The NVAO Options expire and require cleared funds received by the Company or company’s share registry no later than 5:00pm (Melbourne time) on Monday, 31 August 2020.

NVA CEO, Mr. Christopher Gerteisen said: “ Many of our option holders have been long term supporters of the Company, and over time, have continued to grow their ownership in the Company through both shares and options. The Board is delighted with the support and enquiry to the Nova option conversions.

Furthermore, We are continuing our Korbel Resource drill program with two Diamond drill rigs now in operation on Pad 4, with Holes 3 and 4 (KBDH-03 and KBDH-004) now immanent; we look forward to announcing upon receiving the full assays and both have been interpreted.”

NVAO Notice of Exercise of Options form is attached or can be accessed at https://novaminerals.com.au/option-exercise-form/

This announcement has been authorised for release by the Board.

-Ends-

Further information:

Christopher Gerteisen Ian Pamensky CEO and Executive Director Company Secretary E: info@novaminerals.com.au E: info@novaminerals.com.au P: +61 3 9537 1238 P: +61 414 864 746

Board of Directors:

Mr David Hersham Non-Executive Chairman Mr Christopher Gerteisen CEO/ Executive Director Mr Louie Simens Executive Director Mr Avi Geller Non-Executive Director

Contact:

Management: Contact: Mr Dale Schultz Technical lead / Chief Geologist Nova Minerals Limited Mr Brian Youngs Head of Exploration and Logistics Suite 602, 566 St Kilda Rd Mr Romy Hersham Co-Company Secretary Melbourne, VIC, 3004 Mr Ian Pamensky Co-Company Secretary P: +61 3 9537 1238 E: info@novaminerals.com.au W : www.novaminerals.com.au

Nova Minerals is a dynamic Australian explorer and developer of its expanding flagship 2.5Moz Estelle Gold project situated in Alaska

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ABN 84 006 690 348

All Registry communications to: Link Market Services Limited Locked Bag A14 Sydney South NSW 1235 Australia Telephone: +61 1300 554 474 Facsimile: +61 2 9287 0303 ASX Code: NVA Email: registrars@linkmarketservices.com.au Website: www.linkmarketservices.com.au

NAME AND ADDRESS OF OPTIONHOLDER

SRN/HIN

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Conversion Ratio:

1 for 1

Expiry Date:

Notice of Exercise of Options NOVA MINERALS LIMITED OPTIONS

PLEASE COMPLETE BELOW (using block letters)

I/We apply to exercise the following number of options and make payment in Australian currency drawn on an Australian branch of a financial institution for the amount payable. Please allot me/us Ordinary Shares calculated on the basis of 1 Ordinary Share for every 1 Option which I/we exercise. I/We agree to accept such Shares subject to the Constitution of Nova Minerals Limited.

A NUMBER OF OPTIONS EXERCISED B TOTAL PAYMENT REQUIRED at $A • per , , . Option Exercised $A , , , , .

C PLEASE INSERT YOUR CHEQUE DETAILS

Cheques must be drawn on an Australian branch of a financial institution in Australian currency and made payable to “Nova Minerals Limited” and crossed “Not Negotiable”.

Cheque Number BSB Account Number -

YOUR CONTACT DETAILS

D

Telephone Number ( )

Contact Name (PRINT)

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E HOW TO LODGE THE NOTICE OF EXERCISE OF OPTIONS

1. Deposit Funds to: 2. Return this form with holding statement to: Nova Minerals Limited Email: info@novaminerals.com.au BSB: 033 305 or Acct #: 209180 Mail: Suite 602, 566 St Kilda Rd, Melbourne VIC 3004 Phone:+61 3 9537 1238

Privacy Clause: Link Market Services Limited advises that Chapter 2C of the Corporations Act 2001 requires information about you as a securityholder (including your name, address and details of the securities you hold) to be included in the public register of the entity in which you hold securities. Information is collected to administer your securityholding and if some or all of the information is not collected then it might not be possible to administer your securityholding. Your personal information may be disclosed to the entity in which you hold securities. You can obtain access to your personal information by contacting us at the address shown on this form. Our privacy policy is available on our website (www.linkmarketservices.com.au).

NVA OPT001